During 2020, Rathke Corporation reported total sales of $4,000,000, sales returns of $500,000, net income of $1,440,000, and depreciation expense of $120,000. Rathke also reported beginning total assets of $1,000,000, ending total assets of $1,500,000, plant assets of $960,000, and accumulated depreciation of $600,000. If Rathke's asset turnover is 2.8 times, the amount of total sales is

During 2020, Rathke Corporation reported total sales of $4,000,000, sales returns of $500,000, net income of $1,440,000, and depreciation e xpense of $120,000. Rathke also reported beginning total assets of $1,000,000, ending total assets of $1,500,000, plant assets of $960,000, and accumulated depreciation of $600,000. If Rathke's asset turnover is 2.8 times, the amount of total sales is one: a. $4,200,000. b. $3,440,000. Le. $4,000,000. d. $3,500,000. Feedback The correct answer is: $4,000,000